Arista Networks, Inc. (NYSE:ANET) Stock Position Raised by Wealth Alliance

Wealth Alliance boosted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 292.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 42,492 shares of the technology company’s stock after purchasing an additional 31,652 shares during the period. Arista Networks accounts for 0.6% of Wealth Alliance’s investment portfolio, making the stock its 26th biggest holding. Wealth Alliance’s holdings in Arista Networks were worth $4,697,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Caitlin John LLC increased its holdings in shares of Arista Networks by 174.7% in the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock valued at $26,000 after purchasing an additional 152 shares during the period. Cranbrook Wealth Management LLC grew its position in Arista Networks by 300.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock valued at $29,000 after purchasing an additional 198 shares in the last quarter. Trust Co. of Vermont increased its stake in Arista Networks by 300.0% in the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock valued at $29,000 after buying an additional 198 shares during the period. New Millennium Group LLC lifted its position in Arista Networks by 300.0% in the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock worth $29,000 after buying an additional 195 shares in the last quarter. Finally, Westside Investment Management Inc. lifted its position in Arista Networks by 1,012.0% in the 4th quarter. Westside Investment Management Inc. now owns 278 shares of the technology company’s stock worth $31,000 after buying an additional 253 shares in the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Arista Networks Price Performance

Arista Networks stock opened at $103.82 on Thursday. Arista Networks, Inc. has a fifty-two week low of $60.08 and a fifty-two week high of $133.57. The firm has a fifty day moving average price of $114.08 and a two-hundred day moving average price of $101.54. The firm has a market cap of $130.79 billion, a price-to-earnings ratio of 49.91, a P/E/G ratio of 2.87 and a beta of 1.09.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.02. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The business had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.90 billion. As a group, sell-side analysts expect that Arista Networks, Inc. will post 1.97 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on ANET shares. Piper Sandler reaffirmed a “neutral” rating and issued a $108.00 price target (up from $106.00) on shares of Arista Networks in a research note on Wednesday. StockNews.com lowered Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. The Goldman Sachs Group boosted their price target on Arista Networks from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and set a $145.00 price objective on shares of Arista Networks in a research report on Wednesday. Finally, Wells Fargo & Company lifted their target price on shares of Arista Networks from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $113.79.

Insider Transactions at Arista Networks

In related news, Director Kelly Bodnar Battles sold 1,488 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $107.13, for a total transaction of $159,409.44. Following the transaction, the director now directly owns 8,128 shares in the company, valued at $870,752.64. The trade was a 15.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Charles H. Giancarlo sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $412.65, for a total value of $825,300.00. Following the completion of the sale, the director now owns 42,946 shares of the company’s stock, valued at $17,721,666.90. This represents a 4.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 259,944 shares of company stock worth $30,214,186 over the last three months. 3.54% of the stock is currently owned by insiders.

About Arista Networks

Arista Networks, Inc engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for data center, campus, and routing environments in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its cloud networking solutions consist of Extensible Operating System (EOS), a publish-subscribe state-sharing networking operating system offered in combination with a set of network applications.